R3 teams up with HSBlox to launch the Corda Healthcare Community

June 27, 2018

ATLANTA and NEW YORK, 27 June 2018 – Enterprise blockchain software firm R3 and HSBlox, a technology company bringing innovation and transparent economics to the healthcare ecosystem, have today announced the launch of a new blockchain initiative for the healthcare industry based on Corda’s global network, the Corda Healthcare Community.

The Corda Healthcare Community is a ‘community of interest’ for companies building, using or exploring healthcare applications on Corda. It leverages Corda’s platform to combine Corda initiatives, interest from the existing R3 ecosystem and innovative healthcare industry participants to collaborate on developing the next generation of healthcare solutions on blockchain.

With expertise in healthcare, supply chain, and fintech, HSBlox is working closely with R3 to build healthcare applications on Corda—releasing its patent-pending RevBlox™ application on Corda in March of this year. Other partners supporting the Corda Healthcare Community include Hewlett Packard Enterprise (HPE) whilst R3 will also include healthcare payers, hospitals, physician providers and patients on the platform.

There is a growing appetite for blockchain in the healthcare industry with BIS Research revealing that 14% of organisations are expected to use a blockchain-based system by the end of 2018 and 70% are expected to have invested in on-boarding the technology by 2020. The adoption of blockchain could save the industry up to $100-$150 billion per year by 2025.[1]

David E. Rutter, CEO of R3, commented: “There is no doubt that blockchain could create significant efficiencies in today’s healthcare systems and Corda’s privacy design makes it the ideal platform for healthcare applications.

“Our partnership with HSBlox to launch the Corda Healthcare Community will help deliver a new level of security, transparency and efficiency for the healthcare industry. We look forward to working with them and our partners on this initiative.”

Rahul Sharma, CEO of HSBlox, said: “As healthcare stakeholders seek real-time information that integrates patients, providers and caregivers, we see Corda as the optimal platform for deployment of smart contracts as part of our workflow solutions.”

R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 200 members and partners across multiple industries from both the private and public sectors.

R3 is working with its global network to develop on Corda, its blockchain platform designed specifically for businesses. Corda is already being used in industries from financial services to healthcare, shipping, insurance and more.

R3’s global team of over 180 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base. R3 is backed by investment of over USD 120 million from more than 45 firms.

Corda is the outcome of over two years of intense research and development by R3 and its members and meets the highest standards of the financial industry, yet is applicable to any commercial scenario. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com.